Palomar Holdings, Inc. (NASDAQ:PLMR) Insider Sells $42,685.96 in Stock

Palomar Holdings, Inc. (NASDAQ:PLMR) insider Angela L. Grant sold 394 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $108.34, for a total value of $42,685.96. Following the completion of the sale, the insider now directly owns 4,485 shares of the company’s stock, valued at $485,904.90. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Palomar Trading Up 0.4 %

Shares of PLMR traded up $0.43 on Friday, reaching $107.87. 129,015 shares of the company’s stock traded hands, compared to its average volume of 133,406. The stock has a market cap of $2.86 billion, a PE ratio of 25.62 and a beta of 0.38. The stock’s 50 day simple moving average is $106.94 and its two-hundred day simple moving average is $99.27. Palomar Holdings, Inc. has a 52-week low of $57.55 and a 52-week high of $112.90.

Palomar (NASDAQ:PLMR) last released its earnings results on Monday, November 4th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.20. Palomar had a return on equity of 19.65% and a net margin of 21.55%. The business had revenue of $148.50 million during the quarter, compared to the consensus estimate of $134.72 million. During the same period last year, the business posted $0.80 earnings per share. Analysts forecast that Palomar Holdings, Inc. will post 4.33 earnings per share for the current year.

Institutional Trading of Palomar

A number of large investors have recently bought and sold shares of PLMR. Whittier Trust Co. of Nevada Inc. purchased a new stake in Palomar in the third quarter worth $25,000. Blue Trust Inc. purchased a new stake in Palomar in the fourth quarter worth $26,000. GAMMA Investing LLC boosted its holdings in shares of Palomar by 48.6% in the third quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $36,000 after acquiring an additional 125 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Palomar by 490.9% in the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $43,000 after acquiring an additional 378 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of Palomar by 20.2% in the third quarter. Covestor Ltd now owns 1,076 shares of the company’s stock worth $102,000 after acquiring an additional 181 shares during the period. 90.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Jefferies Financial Group increased their price objective on Palomar from $110.00 to $113.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Piper Sandler increased their price objective on Palomar from $119.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods increased their price target on Palomar from $120.00 to $136.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

About Palomar

Palomar Holdings, Inc, a specialty insurance company, provides property and casualty insurance to residential and businesses in the United States. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, fronting, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance.